2008-02-15
RealCAPITA Conducts the 2nd Annual General Meeting
RealCAPITA, Bahraini real estate investment firm, conducted its second Annual General Meeting yesterday, at the Moevenpick Hotel, headed by Mr. Ahmed Al Dhahry Chairman of RealCAPITA, the board members, shareholders, company auditors, and representatives of Ministry of Industry and Commerce.
´The distinguished achievements realized by RealCAPITA to-date are indicators of its persistent ambition for success and excellence. By the end of its second year in operation, the company proved its ability to pursue its growth strategy as stipulated in the diligently drafted business plan´ said Mr. Al Dhahry.
´Year 2007 witnessed a giant leap in our successful journey where we managed to achieve substantial increase in our financial results. Our income for the year jumped by 80% to reach $24.8 millions and our net income increased by 72% over the previous fiscal year´s results to reach $15.1 millions´ he added: ´On this basis, the Board of Director has recommended a dividends distribution of 15% of the Company´s paid-up capital as to the Shareholders (5% in cash and 10% in shares)´.
The outstanding results achieved by RealCAPITA in its relatively short time in operation have come as a result of its sustained efforts and ambitions which coincided with its entry into the European and Saudi markets. The RealPALAIS project on the French-Swiss border and AlJubail Development Company established in the industrial city of Jubail are providing us with exposure in two of the most vibrant and rapidly developing real estate markets.
´Seeking to leave its mark on the international real estate map, RealCAPITA has been pursuing a strategy, both within the Kingdom of Bahrain and globally, whose steps have been thoroughly examined and carefully studied, as it strives to engage in assessing projects that span a number of the promising global markets´ said Mr. Mohammed Al Tawash, Vice Chairman and President of RealCAPITA.
Al Tawash also stated that the company is currently perusing to expand its signature developments in Morocco, and Southeast Asia. In addition Mr. AlTawash has announced that a new project US$500 million will be announced shortly. ´To demonstrate continues commitment towards our main mission, real estate development, the team is currently managing six active developments in three continents, bringing quality and best practices to ensure set timelines are met and optimum results are achieved, aiming to increase the market value over a US$1 billion´ he added.
Mr. Dhahry also extended, on his behalf and of the board of directors, his thanks and gratitude to Government of Bahrain for its unlimited support since it began, which proves the Kingdom of Bahrain´s reputation as a financial hub, also to all the shareholders, clients and investors for their trust and support to achieve our goals.
´The distinguished achievements realized by RealCAPITA to-date are indicators of its persistent ambition for success and excellence. By the end of its second year in operation, the company proved its ability to pursue its growth strategy as stipulated in the diligently drafted business plan´ said Mr. Al Dhahry.
´Year 2007 witnessed a giant leap in our successful journey where we managed to achieve substantial increase in our financial results. Our income for the year jumped by 80% to reach $24.8 millions and our net income increased by 72% over the previous fiscal year´s results to reach $15.1 millions´ he added: ´On this basis, the Board of Director has recommended a dividends distribution of 15% of the Company´s paid-up capital as to the Shareholders (5% in cash and 10% in shares)´.
The outstanding results achieved by RealCAPITA in its relatively short time in operation have come as a result of its sustained efforts and ambitions which coincided with its entry into the European and Saudi markets. The RealPALAIS project on the French-Swiss border and AlJubail Development Company established in the industrial city of Jubail are providing us with exposure in two of the most vibrant and rapidly developing real estate markets.
´Seeking to leave its mark on the international real estate map, RealCAPITA has been pursuing a strategy, both within the Kingdom of Bahrain and globally, whose steps have been thoroughly examined and carefully studied, as it strives to engage in assessing projects that span a number of the promising global markets´ said Mr. Mohammed Al Tawash, Vice Chairman and President of RealCAPITA.
Al Tawash also stated that the company is currently perusing to expand its signature developments in Morocco, and Southeast Asia. In addition Mr. AlTawash has announced that a new project US$500 million will be announced shortly. ´To demonstrate continues commitment towards our main mission, real estate development, the team is currently managing six active developments in three continents, bringing quality and best practices to ensure set timelines are met and optimum results are achieved, aiming to increase the market value over a US$1 billion´ he added.
Mr. Dhahry also extended, on his behalf and of the board of directors, his thanks and gratitude to Government of Bahrain for its unlimited support since it began, which proves the Kingdom of Bahrain´s reputation as a financial hub, also to all the shareholders, clients and investors for their trust and support to achieve our goals.